Thanks to the advantages and benefits brought by Forex in South Africa, more and more investors in South Africa are moving towards this market. Before you can trade freely in this area, you must choose a Forex broker who knows how to meet your expectations and your needs. Below is the list of the best Forex brokers in South Africa for this year 2022.
We also recommend this important reading to get the basics of trading.
Why invest in Forex?
By investing in Forex, you benefit from considerable advantages. You will not have to pay brokerage fees. This market does not require the intervention of intermediaries. It is enough to enter the market responsible for the price of a specific currency. The cost of each transaction is not high. However, it correlates with your leverage. This market is open 24 hours a day. For people who have to juggle their professional life and their trading life, this is a real godsend.
The Best Forex Brokers in South Africa For 2022
Whether in the medium or long term, the Forex market is one of the best solutions to grow your assets. But before you can trade calmly, you will have to choose a reliable and trusted broker. Check onlinetradings.co.za to read more reviews on Forex brokers South Africa 2022. If you can’t make up your mind on which resources and tools to use, here are the best Forex brokers in South Africa for 2022.
1. eToro
Suitable for the needs of beginners and experts in the field of trading. This broker allows you to follow the best Forex traders in the world. If you want to follow their example or apply their technique, you will be free to do so.
This platform is very intuitive. You will not have difficulty handling it. Around the world, its users number is 4 million. This broker is active in 130 countries including South Africa. It offers you the ability to invest in multiple forex currency pairs, index CFDs, stocks, commodities, ETFs and cryptocurrencies.
2. IQ Option
This broker started offering its services in 2013. When it started, it specialized in binary options trading. It has experienced a meteoric rise. It took the broker only 2 years to gain 1 million active users and to have 3 million accounts opened on its platform.
IQ Option is now a Forex, CFD and Binary Options broker. It offers a wide variety of assets. This platform stands out thanks to its competitiveness and modernity.
3. XM
This broker is active in both Forex and CFDs. It has a large panel of financial instruments. It currently has over 2.5 million users in 197 countries including South Africa. In order to facilitate its use, it has made every effort to make its site available in around thirty languages. To develop proximity with its customers, it has customer support available at all times.
XM offers:
- 60 currency pairs for trading;
- 1000 CFDs on stocks
- raw material,
- ETFs and cryptocurrencies.
4. AvaTrade
This broker is mostly focused on trading CFDs. It also allows its users to trade Forex through its multiple platforms. When it comes to security, AvaTrade is regulated by the Regulated by South African Financial Sector Conduct Authority (FSCA No. 45984). It stands out thanks to the quality:
- of its service;
- the training offered;
Its customer support is also very responsive.
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